First-home buyers buck the trend at discovery point

Sydney (Media Release): Despite reports that surging prices have sidelined first-home buyers from the Sydney property market, the majority of apartments in Vivid at Discovery Point have been snapped up by those making their first property purchase.

Real estate newcomers accounted for 52 per cent of the brand new designer apartments sold to date in the architecturally striking, 18-level residential building at Australand’s masterplanned community just 10km from the CBD at Wolli Creek.

And it’s not just in Sydney that Australand is bucking the trend. The high first-home buyer turnout is something Australand saw statewide across its hugely popular masterplanned communities in 2014.

Despite it being the year of the investor, Australand sold close to the same percentage of apartments in NSW to first-home buyers in 2014 as it did in 2013.

New figures reveal that first-home buyers accounted for 21 per cent of sales in Australand’s NSW communities in 2013, compared with 20 per cent in 2014, a decrease of only 1 per cent despite the surge in investor activity.

Australand NSW Residential Division General Manager Nigel Edgar said the figures show that Australand continues to cater to first home buyers by meeting their needs in terms of price, quality, lifestyle and location.

“Just as we’ve seen at the launch here of Vivid at Discovery Point, our masterplanned communities appeal to a broad range of buyer types, including first home buyers, as they are well-planned, well-designed and well-connected residential developments.

“Australand ticks all the boxes for first home buyer requirements, with competitive price points and good access to jobs, transport and retail.”

Not surprisingly, large numbers of buyers are coming from surrounding suburbs such as Rockdale, Hurstville, Kogarah and Canterbury, but an increasing number are coming from more northern suburbs such as Lane Cove, Hornsby and North Sydney.

As well as the quality product on offer in this Vivid release, the added appeal of Discovery Point’s masterplanned community is direct access to the city and Sydney Airport via the on-site Wolli Creek train station, three hectares of parklands, the piazza-style Village Square with cafes, restaurants and a supermarket, as well as the adjacent Woolworths supermarket.

More than 60 Vivid apartments have now been sold. In addition to the 52 per cent take-up from first-home buyers, investors have also snapped up 36 per cent of those sales and owner-occupiers amount to 12 per cent.

The remaining stock at Vivid comprises a wide mix of one-bedroom apartments from $495,000 – $580,000, two-bedroom apartments from $655,000 – $935,000 and three-bedroom apartments from $915,000 – $1,295,000.

Designed by award-winning architects Group GSA, many of the apartments offer views across surrounding parklands, while the lower level park-facing apartments soak up the vibrant Village Square atmosphere.

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